US stock markets fell amid escalating Mideast geopolitical risks, which saw oil prices surge above $100 a barrel, fueling global inflation concerns. Investors are also weighing new tariffs and an increased likelihood of a Federal Reserve rate hike next week, with markets pricing in a one-in-three chance. The Fed's preferred inflation gauge (PCE data) is also due, adding to market uncertainty. These factors could bolster safe-haven demand for gold internationally and potentially impact USD/PKR and Pakistan's inflation outlook.
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